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EURCHF 4 Oct 2023

EURCHF 4 Oct 2023 on the daily timeframe, had fallen back through S1 but the pair was able to strengthen again and re-penetrate the S1 line. Even so, the pair is still between the 23.6 and 38.2 Fibo levels. Now the pair is able to occupy the price position of 0.96490 which on the previous day was at the price of 0.96203. When referring to the RSI indicator, it seems that the chart shows a positive thing that reinforces that the bullish trend is still likely to continue. If that is true then go-long could be an option for traders. But if there are factors that can affect the trend reversal, then go-short could be an option. Keep an eye on the market movements and evaluate all possibilities before making a trading decision.

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